CRISIL (Credit Rating Information Services of India Limited) is India's first credit rating agency. It was established in 1987 and is headquartered in Mumbai.

Key Points:
1. Background: CRISIL was promoted by the Industrial Development Bank of India (IDBI), the Unit Trust of India (UTI), and financial institutions such as the ICICI and the LIC. It was set up with the objective of providing credit ratings and research services to various market participants.

2. Services: CRISIL provides a wide range of services including credit ratings, grading, research, and risk and policy advisory services. Its credit ratings are used by investors, issuers, and regulators to assess the creditworthiness of entities and instruments.

3. Rating Methodology: CRISIL follows a rigorous and transparent rating methodology. It assesses the financial strength and business risk profile of companies and assigns ratings based on various parameters such as financial performance, industry outlook, management quality, and regulatory environment.

4. Market Leader: Over the years, CRISIL has established itself as a market leader in the credit rating industry in India. It has a strong track record of providing reliable and independent credit opinions. Its ratings are widely recognized and trusted by market participants.

5. Subsidiary of Standard & Poor's: In 2005, CRISIL became a subsidiary of Standard & Poor's (S&P), one of the world's leading credit rating agencies. This partnership has further enhanced CRISIL's credibility and global reach.

6. Regulatory Oversight: CRISIL is regulated by the Securities and Exchange Board of India (SEBI), which ensures that it adheres to the highest standards of transparency, independence, and integrity in its rating activities.

In conclusion, CRISIL is India's first credit rating agency and has played a significant role in shaping the credit rating industry in the country. Its reliable and independent credit opinions have helped investors and market participants make informed decisions.